Paying for Products with Your Customers' Money Instead of Your OwnThere are a few ways to pay for the products using your customers’ money and none of your own. And all of these methods are safe, fast and effective as well. But no matter how you look at it, in the end it’s always the customer who pays for the product, and not you, the reseller.
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Paying for Products with Your Customers' Money Instead of Your Own
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Using PayPal to pay with your customers’ moneyOne of the most popular and easiest ways to pay for products using your customers’ money is by using PayPal to accept payments and to pay for products as well.
PayPal (www.PayPal.com) is a global e-commerce payment processing company which allows businesses and individuals to accept payments online and transfer money securely over the Internet. |
PayPal services allows businesses and individuals to send money without sharing financial information, with the option to pay using their account balances, bank accounts, or credit cards. And with over 100 million PayPal users in 190 markets and 25 currencies around the world, PayPal makes global commerce happen.
Furthermore, PayPal is more than just a payment processor; they also offer complete merchant and ecommerce solutions as well.
For example, PayPal offers a complete shopping cart system which is free for PayPal users. And you can use this shopping cart system to accept payments securely on your website.
To utilize and implement PayPals’ shopping cart system into your website simply login to your PayPal account and select “Merchant Services” from the top menu.
Then click on “Create payment buttons for your website” and follow the step-by-step instructions to create your “Buy now” or “Add to cart” buttons.
PayPal will then automatically create the button code for you. Then simply copy and paste the button code onto your product page and you’re done. That product page is now complete and has a PayPal “Buy now” or “Add to cart” button in place and ready to be used to accept orders online.
Furthermore, PayPal is more than just a payment processor; they also offer complete merchant and ecommerce solutions as well.
For example, PayPal offers a complete shopping cart system which is free for PayPal users. And you can use this shopping cart system to accept payments securely on your website.
To utilize and implement PayPals’ shopping cart system into your website simply login to your PayPal account and select “Merchant Services” from the top menu.
Then click on “Create payment buttons for your website” and follow the step-by-step instructions to create your “Buy now” or “Add to cart” buttons.
PayPal will then automatically create the button code for you. Then simply copy and paste the button code onto your product page and you’re done. That product page is now complete and has a PayPal “Buy now” or “Add to cart” button in place and ready to be used to accept orders online.
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When the customer is ready to buy the product then they can proceed to “check out” by clicking on the PayPal “Add to cart” button which leads them to PayPals’ shopping cart system.
Then the customer will enter their credit card information onto the shopping cart order form and then complete the order online.
Those funds are then processed, transferred and deposited into your PayPal account within seconds. And now you can either transfer those funds from your PayPal account into your bank account or you can use those funds to purchase the product from the distributor. However, you still need to pay for those products with a credit card for example. And this is where PayPal comes in handy.
Then the customer will enter their credit card information onto the shopping cart order form and then complete the order online.
Those funds are then processed, transferred and deposited into your PayPal account within seconds. And now you can either transfer those funds from your PayPal account into your bank account or you can use those funds to purchase the product from the distributor. However, you still need to pay for those products with a credit card for example. And this is where PayPal comes in handy.
PayPal MasterCard Debit Card
PayPal offers a PayPal MasterCard debit card for PayPal account holders which is backed by the funds in your PayPal account. And you can use your PayPal debit card to pay for the products as well, (as long as there are funds available in your PayPal account). And once the customer orders the product with their credit card then those funds are deposited into your PayPal account and are available for immediate use.
If the customer calls to order the product by phone then you can simply click on the PayPal “Add to cart” button on your product webpage and enter the customers’ credit card, billing and shipping information on the PayPal shopping cart system.
Then you can use your PayPal MasterCard debit card to access those funds and thereby pay for the product with your customers’ money.
If the customer calls to order the product by phone then you can simply click on the PayPal “Add to cart” button on your product webpage and enter the customers’ credit card, billing and shipping information on the PayPal shopping cart system.
Then you can use your PayPal MasterCard debit card to access those funds and thereby pay for the product with your customers’ money.
You can order the product from the distributors’ website or by phone with your PayPal MasterCard debit card. The distributor will then ship the product directly to your customer for you. Whatever money is left over in your PayPal account from that sale is your profit.
So if you want to pay for products using your customers’ money and none of your own then you may want to open up a PayPal account and start accepting payments through PayPal.
So if you want to pay for products using your customers’ money and none of your own then you may want to open up a PayPal account and start accepting payments through PayPal.
If you already have a PayPal account then you can upgrade your account to a business account from within the profile section of your PayPal account.
If you don’t have a PayPal account then visit www.PayPal.com and get signed up today.
Using the PayPal payment system and business debit card is just one way to use your customers’ money to pay for the products. However, there are a few more methods and possible solutions as well.
If you don’t have a PayPal account then visit www.PayPal.com and get signed up today.
Using the PayPal payment system and business debit card is just one way to use your customers’ money to pay for the products. However, there are a few more methods and possible solutions as well.
Free ground shipping buys you time
If you offer free ground shipping on your website and the customer takes you up on your free shipping offer then you have plenty of time to receive the customers’ funds into your own bank account and then use those funds to order the product from the distributor. For example, after the customer orders and pays for the product with their credit card, then you will receive an order confirmation email which confirms that the customers’ credit card has been approved and authorized for the sale and the funds are on their way to your bank account.
Those funds are then processed, transferred and deposited into your own bank account within 48 hours or less, (when using a standard merchant account). However, since the customer is aware of the fact that ground shipping can take up to a week or more for their order to arrive then you have enough time to receive their funds into your bank account.
Then you can use your own bank account debit card to purchase the product from the distributor thereby using the customers’ money and none of your own.
Those funds are then processed, transferred and deposited into your own bank account within 48 hours or less, (when using a standard merchant account). However, since the customer is aware of the fact that ground shipping can take up to a week or more for their order to arrive then you have enough time to receive their funds into your bank account.
Then you can use your own bank account debit card to purchase the product from the distributor thereby using the customers’ money and none of your own.
Receiving payment by check
If the customer pays for their order by check then you can use their money to pay for the product as soon as the check has cleared.
If the customer sends you a cashiers check, (and many businesses will), then those types of checks will clear right away allowing you to use those funds to pay for the product as well.
If the customer sends you a cashiers check, (and many businesses will), then those types of checks will clear right away allowing you to use those funds to pay for the product as well.
This is only temporary
It’s also important to remember that this is only temporary and that you only need to use your customers’ money to pay for the products until you have enough capital to purchase the products with your own funds, (after the customer has paid you of course).
This is only in the beginning. Eventually, as your business grows, you’ll have enough capital to where it no longer matters whether you use your customers money or not and you can use your own debit card or take advantage of the net term offers from distributors.
As a new business with no credit references, most distributors will offer you standard payment terms such as credit card, C.O.D, wire transfer, direct debit etc.
Then after 60 to 90 days of doing steady business with distributors they can place you on net terms or EFT, (electronic funds transfer). But in the mean time, the products have to be paid for. And by using any of the methods mentioned above you can pay for the products using your customers’ money, all of the time.
This is only in the beginning. Eventually, as your business grows, you’ll have enough capital to where it no longer matters whether you use your customers money or not and you can use your own debit card or take advantage of the net term offers from distributors.
As a new business with no credit references, most distributors will offer you standard payment terms such as credit card, C.O.D, wire transfer, direct debit etc.
Then after 60 to 90 days of doing steady business with distributors they can place you on net terms or EFT, (electronic funds transfer). But in the mean time, the products have to be paid for. And by using any of the methods mentioned above you can pay for the products using your customers’ money, all of the time.